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The condensed financial statements for OIL Inc. and ERS Company for the year ended December 31, Year 5, follow: OIL ERS Revenues $ 909,000 $

The condensed financial statements for OIL Inc. and ERS Company for the year ended December 31, Year 5, follow:

OIL ERS
Revenues $ 909,000 $ 306,000
Expenses 663,000 203,000
Net income $ 246,000 $ 103,000
Retained earnings, 1/1/Year 5 $ 803,000 $ 203,000
Net income 246,000 103,000
Dividends paid 93,000 0
Retained earnings, 12/31/Year 5 $ 956,000 $ 306,000
Cash $ 83,000 $ 113,000
Receivables and inventory 403,000 173,000
Patented technology (net) 903,000 304,500
Equipment (net) 703,000 603,000
Total assets $ 2,092,000 $ 1,193,500
Liabilities $ 603,000 $ 414,500
Common shares 533,000 473,000
Retained earnings 956,000 306,000
Total liabilities and equities $ 2,092,000 $ 1,193,500

On December 31, Year 5, after the above figures were prepared, OIL issued $228,000 in debt and 15,000 new shares to the owners of ERS for 90% of the outstanding shares of that company. OIL shares had a fair value of $40 per share.

OIL also paid $33,000 to a broker for arranging the transaction. In addition, OIL paid $35,000 in stock issuance costs. ERSs equipment was actually worth $696,000, but its patented technology was appraised at only $283,000.

Required:

What are the consolidated balances for the year ended/at December 31, Year 5, for the following accounts? (Omit $ sign in your response.)

(a) Net income

OIL's net income considered in the Consolidated Financial Statement $

(b) Retained earnings, 1/1/Year 5

OIL's retained earnings in the Financial statement for Consolidation $

(c) Equipment

Value of equipment after acquisition $

(d) Patented technology

Value of patent after acquisition $

(e) Goodwill

Goodwill $

(f) Liabilities

Total liabilitiesafter acquisition $

(g) Common shares

Total value of common shares after acquisition $

(h) Non-controlling interests

Total value of non-controlling interestafter acquisition $

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